NBA star's firm scores Newark redevelopment deal

August 7, 2008

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NEWARK, N.J. - Newark native Shaquille O'Neal will help rebuild part of New Jersey's largest city.

The NBA star's real estate firm is part of a development group that plans to build a $90 million, 25-story condominium tower on city-owned land not far from the New Jersey Performing Arts Center.

The City Council cleared the way Wednesday for Boraie O'Neal Urban Development, a partnership that includes two firms and O'Neal, to be the site's designated redeveloper.

O'Neal grew up in the city's Central Ward. 

In a prepared statement, he noted he was happy to be involved in the project, saying, "I've always believed that no success is complete without giving back to the place you call home."